Governor Siminalayi Fubara of Rivers State has presented a 2025 budget proposal of N1.1 trillion to the Victor Oko-Jumbo-led Rivers State House of Assembly.
Tagged the “Budget of Inclusive Growth and Development,” the appropriation bill was submitted to the four-member assembly on Monday.
The proposed budget allocates N462.3 billion to recurrent expenditure and N678.1 billion to capital projects, bringing the total to N1.19 trillion.
During the budget presentation, Fubara highlighted the state’s achievements in 2024, including “unprecedented investments and significant impact” in road infrastructure, healthcare, education, and security.
He also announced a historic boost in the state’s internally generated revenue (IGR).
Fubara projected that the state’s IGR would surpass N300 billion by December 2024, marking an increase of over N100 billion compared to 2023.
He attributed the growth to improved domestic resource mobilisation rather than new taxes.
“This is the first time the state government has recorded a historic N100 billion increase in IGR in a succeeding year,” Fubara said. “The phenomenal increase underscores our administration’s success in enhancing domestic resource mobilisation as the primary source for funding government expenditures.”
The governor added that the state met all its 2024 debt obligations without taking new loans and achieved full implementation of its recurrent budget.
He reiterated his administration’s commitment to prudent financial management to drive sustainable growth.
Fubara called on the assembly to support the 2025 budget proposal, emphasizing its potential to sustain ongoing development and deliver inclusive growth for the state.
